Published on 10/11/2007 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $12 million 13% reverse convertibles linked to Terex
New York, Oct. 11 - ABN Amro Bank NV priced $12 million of 13% Knock-In Reverse Exchangeable notes due Oct. 10, 2008 linked to Terex Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Terex stock falls below the protection price of $58.32, 65% of the initial price of $89.73, during the life of the notes and finishes below the initial price in which case the payout will be 11.145 shares of Terex stock.
ABN Amro Inc. is the agent.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-In Reverse Exchangeable notes
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Underlying stock: | Terex Corp.
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Amount: | $12 million
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Maturity: | Oct. 10, 2008
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Coupon: | 13%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Terex stock falls below the protection price of $58.32, 65% of the initial price, and finishes below the initial price, in which case 11.145 shares of Terex stock.
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Initial price: | $89.73
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Protection price: | $58.32, 65% of $89.73
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Exchange ratio: | 11.145
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Pricing date: | Oct. 9
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Settlement date: | Oct. 12
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Agent: | ABN Amro Inc.
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Agent fee: | 3%
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